Chubb Limited Expands Footprint in Asia with Strategic Acquisitions
Global insurance powerhouse Chubb Limited has announced its strategic move to acquire LMG Insurance in Thailand and Liberty Insurance in Vietnam. These acquisitions involve Liberty Mutual’s property and casualty (P&C) insurance businesses in both countries. The firms being acquired offer a comprehensive array of consumer and commercial P&C products, including automotive, accident & health, and non-motor insurance such as fire, property, and industrial all-risk.
These acquisitions will strengthen Chubb’s portfolio through an expanded distribution network, comprising 56 branches, 2,600 brokers and agents, and 26 finance partners. Combined, these operations generated approximately $275 million in net premiums written in 2024, marking a significant enhancement of Chubb’s business in the region.
For Liberty Mutual, the divestments align with its strategy to focus on its remaining operations in Asia Pacific, which is anticipated to become the largest P&C insurance market globally by 2045. Liberty Mutual remains committed to capturing market opportunities in Australia, China, Malaysia, Hong Kong, Singapore, and India.
Liberty Mutual’s President and CEO, Tim Sweeney, remarked, “Thailand and Vietnam are thriving businesses with significant potential, and this transaction aligns them with an organization committed to investing in these markets’ development. We appreciate our dedicated teams serving clients, brokers, and partners in these regions.”
The acquisition of the Thailand-based insurer is expected to finalize in the second quarter of this year, while the transaction for Liberty Insurance in Vietnam is projected to close late this year or early in 2026, pending regulatory approvals and customary closing conditions. Goldman Sachs acted as financial advisor, with legal advisory from Baker McKenzie, Thailand and Baker & McKenzie (Vietnam) Ltd. Terms of the agreements remain undisclosed.
